Aigen Investment Management LP Takes $3.22 Million Position in Omnicom Group Inc. $OMC

Aigen Investment Management LP acquired a new stake in shares of Omnicom Group Inc. (NYSE:OMC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 39,833 shares of the business services provider’s stock, valued at approximately $3,217,000. Omnicom Group accounts for about 0.8% of Aigen Investment Management LP’s portfolio, making the stock its 20th largest holding.

Other hedge funds have also recently modified their holdings of the company. Atlas Capital Advisors Inc. bought a new position in Omnicom Group in the 4th quarter worth $865,000. CreativeOne Wealth LLC bought a new position in Omnicom Group in the 4th quarter worth $250,000. Kestra Advisory Services LLC boosted its holdings in Omnicom Group by 11.3% in the 4th quarter. Kestra Advisory Services LLC now owns 15,698 shares of the business services provider’s stock worth $1,268,000 after buying an additional 1,595 shares during the period. Transamerica Financial Advisors LLC boosted its holdings in Omnicom Group by 2.2% in the 4th quarter. Transamerica Financial Advisors LLC now owns 13,441 shares of the business services provider’s stock worth $1,086,000 after buying an additional 285 shares during the period. Finally, Parkside Financial Bank & Trust boosted its holdings in Omnicom Group by 36.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,029 shares of the business services provider’s stock worth $325,000 after buying an additional 1,073 shares during the period. Institutional investors own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on OMC. UBS Group upped their target price on shares of Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Omnicom Group in a report on Friday, May 22nd. Citigroup dropped their target price on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Morgan Stanley upped their target price on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Finally, The Goldman Sachs Group began coverage on shares of Omnicom Group in a report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 target price for the company. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $99.00.

Omnicom Group Stock Up 1.2%

OMC opened at $76.52 on Friday. The firm has a 50-day simple moving average of $75.49 and a two-hundred day simple moving average of $76.65. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $87.17. The company has a market capitalization of $21.81 billion, a PE ratio of 196.21, a price-to-earnings-growth ratio of 0.46 and a beta of 0.63. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.84 by $0.06. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The business had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter in the prior year, the firm earned $1.70 EPS. The business’s revenue was up 69.2% on a year-over-year basis. Analysts forecast that Omnicom Group Inc. will post 10.97 earnings per share for the current fiscal year.

Omnicom Group declared that its board has approved a stock repurchase plan on Wednesday, February 18th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the business services provider to reacquire up to 38.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 10th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, June 10th. Omnicom Group’s dividend payout ratio is 820.51%.

About Omnicom Group

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.